What does Easterline paradox exists in the real world or not.

What is easterlin paradox

Easterlin is a fact in this world. The first time Richard Easterlin introduced it in 1974. This theory says that in the start income and happiness have positive relationships. As income increases the level of happiness also increases but after some time this relationship vanishes. It can be said that fluctuations in the economy occurs in long run like expansion and contraction.

Money and Happiness in real world

Suppose the poor are less happy than the rich and the rich has high level of satisfaction than the poor. The statistics shows in different countries that this is not right, happiness is a state of mind, it does not depend on income all the time. It cannot be ignored but to say it is 100 percent right is not fact. There are no statistics that shows that when a country becomes rich the people's level of happiness is also increased. So it can be said that in the short-run it is possible that income and happiness go ahead but in long run like the time period of 10 years it does not happens.

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